ContiTech acquires Australian mining industry firm
ContiTech, Continental’s rubber and plastics technology division, has further expanded its global activities in the mining and raw materials industry through its Conveyor Belt Group’s acquisition of Australian trade company M.I.R.S. (Mining Industrial Resource Supplies). The agreement to purchase the Perth-based company was made on July 12 and backdated to July 1, 2011. Both sides have agreed not to disclose the purchase price.
“This acquisition strengthens the activities of the Conveyor Belt Group in the Australian conveyor belt market in the long term,” said Hans-Jürgen Duensing, head of the ContiTech Conveyor Belt Group business unit. “Moreover, the location ideally boosts our presence even further in the South Pacific region in particular.” Continental notes that, as an agent and dealer, M.I.R.S. was previously a very successful sales partner for ContiTech conveyor belts.
In announcing the acquisition, ContiTech states it intends to further invest in the Australian operation in order to safeguard and expand its business with the mining industry in the long term. In addition, it intends to broaden the industrial and special-purpose conveyor belt business.